"With the close of the 3rd quarter, all four of ABG Capital’s portfolio companies have contributed to one our best quarters ever."
Pittsburgh, PA (PRWEB) November 01, 2012
ABG Capital, a privately held business management company that provides back office services to its portfolio companies, had a stellar 3rd quarter and is on pace to have a record year for 2012.
“With the close of the 3rd quarter, all four of ABG Capital’s portfolio companies have contributed to one our best quarters ever. Revenues are up 13% and profits are up 25% from the 1st quarter,” stated Jeff Tapolci, CEO of ABG Capital.
VoIP Innovations, ABG Capital’s largest investment, is a wholesale provider of Voice-over-IP telephone services. This company is well on its way to achieving its goal of being the industry’s largest wholesale provider of North American origination and termination.
“This company is where we are seeing tremendous growth,” said Tapolci. “In an aggressive market such as telecommunications, VoIP Innovations has not only been able to contend with their competitors, but are among the leaders of their industry.”
GlobalPOPs, the industry’s largest aggregator of dial-up internet services, continues to actively acquire wholesale dial traffic, as well as end-users through its End User Services (EUS) nameplate. Though the world of dial-up interest service is consistently shrinking, GlobalPOPs and EUS are positioning themselves to be in the dial-up internet market for years.
Finally, Inspira, ABG Capital’s most recent venture, has been self-sufficient for two quarters now. Their role has been determined in their market and Inspira’s focus since the spring has been to bring on new clients. “We are continuing to sign up larger clients,” stated Tapolci. “We now know there is a market for our comprehensive IRA rollover and retirement plan termination services.”
With the fourth quarter being consumed by the election and holiday seasons, having three great quarters completed this year gives ABG Capital the momentum needed to successfully move through the rest of the year. Closing out 2012 in the way that they anticipate will allow them to start 2013 ahead of plan, which will make their shareholders happy. If 2013 is anything like what we saw in 2012, look out.
“We’re extremely proud of our success, but most of the success can be credited to the team we have in place,” said Tapolci. “It’s not every day that you can have profitable companies and keep the fun, family atmosphere that we have, especially to the point where you’re named one of the best places to work in the state. We’ve been blessed, that’s for sure.”
About ABG Capital: Located in Pittsburgh, PA, ABG Capital leverages its unique business management model to reduce costs through the consolidation of back office operations for its portfolio companies. By consolidating services like accounting, legal, IT, software development, employee administration and HR, we are able to eliminate redundancy among, increase efficiency and be very nimble to the changes that occur in the market.